Perion Appoints Orey Gilliam to Head its Codefuel Division

TEL AVIV, Israel & SAN FRANCISCO--(BUSINESS WIRE)--
Perion Network Ltd. (NASDAQ: PERI) (TASE: PERI) announced today that Mr.
Orey Gilliam will join the company as President of its Codefuel
Division, effective July 8, 2014. Mr. Gilliam previously served as the
Head of AOL Messaging, the CEO of ICQ and most recently as the CEO of
BIScience, a data-driven advertising and analytics company.

"I am very excited to add someone of Mr. Gilliam's caliber and
experience to our already very strong Codefuel team. Mr. Gilliam is a
proven executive with vast experience in the internet and advertising
industry and is exactly what we need to help take the company to the
next level," commented Mr. Josef Mandelbaum, Perion's CEO. "In addition,
Mr. Gilliam has worked at large internet companies like AOL and knows
how to manage at scale across multiple continents and still keep the
start-up spirit alive. He is a proven manager who is well liked and
respected by all those who have worked for him. I am confident that Mr.
Gilliam will add significant management depth to our existing great team
and I look forward to working closely with him."

"I have known Josef for many years and am excited about the opportunity
to join him and the rest of the Perion team. Building a large,
sustainable and growing business in the internet and mobile industry
based in Israel is a vision I have had for many years. I am thrilled to
be able to join and be a part of making that vision a reality. As an
end-to-end technology platform for developers, to help them promote,
monetize and optimize their products, Perion's potential market size is
significant," commented Mr. Gilliam.

Additionally, the Company and Josh Wine agreed to part ways, effective
immediately. The Company thanks Mr. Wine for his service.

Mr. Gilliam graduated from the Technion - Israel Institute of Technology
in 1985 with a B.S. in Computer Engineering. He started his career at
Intel, where he worked in various R&D and Technical Marketing roles for
7 years. He then spent the next 11 years with Gilat Satellite Networks
and its affiliated companies, where he held various Vice President
roles, including Broadband, Operations and CIO. After Gilat, Mr. Gilliam
became CEO of ICQ (an AOL company) and ultimately rose to head AOL
Messaging, responsible for over 200 employees with offices in multiple
countries. After 6 years at AOL, Mr. Gilliam became the CEO of
BIScience, a validation, measurement, and analysis solutions provider
for online and mobile advertising activities. For the past year, Mr.
Gilliam has served as an advisor, consultant and board member to
multiple startups in the internet and mobile industry.

About Perion Network Ltd.

Perion powers innovation. Perion is a global performance-based media
and Internet company, providing online publishers and app developers
advanced technology and a variety of intelligent, data-driven solutions
to monetize their application or content and expand their reach to
larger audiences, based on our own experience as an app developer. Our
leading software monetization platform, Perion
Codefuel, empowers digital businesses to optimize installs, analyze
data and maximize revenue. Our app promotion platform, Perion
Lightspeed, enables developers to make wise decisions on where to
spend advertising budgets to produce the highest yield and the most
visibility. The Perion team brings decades of experience, operating and
investing in digitally-enabled businesses, and we continue to innovate
and create value for the app ecosystem. More information about Perion
may be found at www.perion.com. Follow
Perion on Twitter @perionnetwork.

Forward Looking Statements

This press release contains historical information and
forward-looking statements within the meaning of The Private Securities
Litigation Reform Act of 1995 with respect to the business, financial
condition and results of operations of Perion. The words "will,"
"believe," "expect," "intend," "plan," "should" and similar expressions
are intended to identify forward-looking statements. Such statements
reflect the current views, assumptions and expectations of Perion with
respect to future events and are subject to risks and uncertainties.
Many factors could cause the actual results, performance or achievements
of Perion to be materially different from any future results,
performance or achievements that may be expressed or implied by such
forward-looking statements, or financial information, including, among
others, the failure to realize the anticipated benefits of the
ClientConnect transaction; risks entailed in integrating the
ClientConnect business with Perion's other businesses, including
employee retention and customer acceptance; the risk that the
transaction will divert management and other resources from the ongoing
operations of the two businesses or otherwise disrupt the conduct of
those businesses, potential litigation associated with the transaction,
and general risks associated with the business of Perion and with the
ClientConnect business, including changes in the markets in which the
businesses operate and in general economic and business conditions, loss
of key customers, unpredictable sales cycles, competitive pressures,
market acceptance of new products, inability to meet efficiency and cost
reduction objectives, changes in business strategy and various other
factors, whether referenced or not referenced in this press release.
Various other risks and uncertainties may affect Perion and its results
of operations, as described in reports filed by the Company with the
Securities and Exchange Commission from time to time, including its
annual report on Form 20-F for the year ended December 31, 2013. Perion
does not assume any obligation to update these forward-looking
statements.